Intel: Cheap Stock, Handsome Yield

Sure, its PC business is slowing, but the world's leading chip maker is directing its fire hose of cash into innovation, with plenty left over for shareholders.

If Intel were a phone, it would still have a cord attached. But the world's largest computer chip maker is spending billions on research and facilities to help it catch up to the mobile age.

More than half of Intel's (ticker: INTC) roughly $53 billion in revenue comes from chips used in personal computers. PC shipments, however, are in steep decline as consumers switch to mobile devices such as tablets and phones. Intel dominated the...